Contractionary fiscal policy leads to a ________
A) leftward shift of the labor demand curve B) rightward shift of the labor supply curve
C) leftward shift of the labor supply curve D) rightward shift of the labor demand curve
A
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If average fixed cost exceeds average variable cost at a particular level of output: a. Profits must be negative
b. That fact is meaningless for deciding the quantity of output to produce. c. Output levels are probably quite low relative to the designed capacity of the production facility. d. Both b and c. are likely true.
If M1 is $1,200 billion, currency held outside banks is $400 billion, and traveler's checks is $10 billion, then small-denomination time deposits equal
A) $790 billion. B) $390 billion. C) $800 billion. D) $1,190 billion. E) There is not information to answer the question.
Refer to the table below. What is the economy's gross domestic product? In trillions of dollarsConsumption5.2Investment2.7Government Purchases2.6Transfer payments0.6Exports0.6Imports0.6
A. $11.7 trillion B. $10.5 trillion C. $12.3 trillion D. $11.1 trillion
AT&T argued that the merger with T-Mobile should be approved by the Justice Department because
A. There are many wireless providers available for consumer. B. AT&T will gain additional wireless towers from T-Mobile. C. It will result in higher prices for consumers. D. The merger will lead to efficiencies because a larger firm can enjoy economies of scale and can keep prices low.